Starbucks and McDonald’s are reportedly among 19 restaurants and retail shops that will be involved in testing China’s central bank digital currency in the country’s Xiong’An new district.
Will Libra Live Up To Its Initial Ambitions?
According to Binance, Libra’s envisioned global payment system could do to the payment industry what SpaceX did to the space industry: shake the foundations of a well-established sector with high entry barriers. The mere advantage of issuing widely-available programmable money would already initiate manifold efficiency gains.
As Libra pivots, members jump ship for Celo
Although Celo and Libra share a similar mission – both want to help create prosperity – but Celo is a completely decentralized collective of mission-aligned organizations. “There’s no central governing body to determine how Celo will evolve, and people will be able to vote on how Celo evolves.”
Stablecoin On-Chain Activity Grows 800% in a Year
The on-chain activity for stablecoins has increased 800% in the last 12 months according to market intelligence firm TokenAnalyst.
Stablecoins Are Booming, But What Are The Tax Consequences?
From a U.S. tax perspective, there are no distinct rules applicable to stablecoins; stablecoins are treated as “property” under IRS Notice 2014-21, similar to any other cryptocurrency like bitcoin and ether.
Issue digital cash or lose trust in money, report warns
This “Positive Money” report explains how a central bank digital currency could be introduced to give policymakers more effective tools to support the economy, particularly during times of crisis such as the coronavirus pandemic, while maintaining financial stability.
CBDC: Considerations for the Digital Euro
While the development of a digital Euro will likely take extensive planning, the potential merits further exploration. This report explores the various technical choices and their benefits or deterrents. It concludes that a blockchain based CBDC has the potential to greatly improve speed, security, privacy, and efficiency. The decentralised nature of blockchain, while difficult to implement with a centralised financial system, provides enough new possibilities that it merits serious consideration.
Digital Dollars Can Reduce Unemployment, Here’s How
@MMPrts proposes a unique CBDC that reverses the process by which money is created and put in circulation. The “MttP” would be issued by employers as wages. Banks would have to accept payments in MttP or exchange MttPs for dollar balances in bank accounts at face value. Banks would redeem MttPs at the central bank in exchange for reserves.
IMF on Digital Solutions for Direct Cash Transfers in Emergencies
Digital solutions for direct cash transfers help to identify and validate intended beneficiaries, make payments in a timely and secure manner, and ensure transparency and accountability by providing a reliable audit trail and publishing timely data.
BitMEX behind bitcoin Black Thursday bounce?
One of the main protagonists in the fateful crash on March 12 is BitMEX, which suffered a distributed denial-of-service (DDoS) attack on the worst day imaginable. Ironically, that attack may have helped stop and even reverse part of bitcoin’s price plunge.
Posted from Diigo: https://www.diigo.com/user/kiffmeister/Fintech